Alexian Brothers Health System Inc Investment Trust

Nonprofit profile at a glance

EIN
363801585
IRS 990 coverage
2013–2013
Forms available
Form 990 2013
Location
Arlington Heights, IL, USA
Phone
8478187100
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Nonmonetary Support N.E.C.
Affiliation
Christianity

Official website

Reported finances

Revenue
$11,797,015
Expenses
$11,797,015
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • MARK FREY (President / CEO)
  • PAUL BELTER (Senior Vice President, Finance)

Highest reported compensation

  • MARK FREY (President / CEO): $1,548,236 total reported compensation
  • PAUL BELTER (Senior Vice President, Finance): $600,866 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Alexian brothers health system, inc. Investment trust (the "trust") carries out the healing mission of the catholic church through alexian brothers ministries by identifying and developing effective responses to the health needs of those we are called to serve.

What it reported doing in 2013

For more than seven centuries, the alexian brothers have cared for the sick, the aged, the poor and the dying. The basic judeo-christian beliefs that inspired the founders of this worldwide catholic religious congregation sustain its ministry today: to promote the physical, mental, spiritual, and social well-being of individuals of all creeds, races, nationalities and socioeconomic levels served through the health care ministry. Strengthened by community, prayer, commitment to the poor and the legacy of its founders, and in partnership with others, the alexian brothers witness the healing christ by a holistic approach to promoting health and caring for the sick, dying, aged and unwanted of all socioeconomic levels, outside as well as within the alexian health care system. Alexian brothers health system, inc. Investment trust (the "trust"), carries out the healing mission of the catholic church through alexian brothers ministries by identifying and developing effective responses to the health needs of those called to serve. The trust's purpose is administering the pooled investments maintained on behalf of participants in the trust. Participation in the trust is limited to alexian brothers health system ("abhs") and abhs affiliates which are not-for-profit corporations exempt from federal income taxes. The trust is exempt from federal income taxes pursuant to section 501(c)(3) of the code. Ascension investment management is the administrator of the trust and is responsible for controlling, managing and investing the pooled assets of the trust. Participants accrue interest on the assets invested with the trust based on the trust's actual earnings.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 43
  • Accountability: 95
  • Sustainability: 25
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 69th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0.9%; rating input score 85; 85th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 13 of 13 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $11.8M in reported program spending
  • Leadership: top reported pay $1.5M · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 7 filed schedules · includes foreign activity, executive pay, and related organizations
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 32 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.